Construction and property management group KSH Holdings Limited has posted a 56-percent rise in net profit to S$4.3 million for the first quarter that ended 30 June 2010.
Revenue also increased 21 percent to S$72.4 million from S$60.0 million.
The company’s core construction business remains the top contributor, with 98 percent or S$71.0 million of the company’s total revenue derived from this segment, while the remaining 2 percent was attributed to its property development and management operations.
KSH executive chairman and managing director Mr. Choo Chee Onn, commented: “I am pleased to report an increase in revenue and net profit for the Group for this financial quarter. This serves as a testimony to the resilience of our business and the confidence that our business partners have in us. Our core construction business continues to display strong growth and in line with our business strategy, we will continue to build up a balanced portfolio of public and private sector projects.”
In line with the increase in revenue, profit before tax rose 44 percent to S$5.1 million, while net profit attributable to shareholders increased 54 percent to S$4.2 million.
Looking ahead, KSH is expected to tap on the rising construction demand in Singapore and further enhance its portfolio to maintain its current standing in the private and public sectors.